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    Retail/Medical/Office Development Opportunity Title is generated by Realmo AI

    5950-5960 South State Road, Ann Arbor, MI

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    New construction near Avis Farms, ideal for retail/office.

    Type:RETAIL
    Property size:
    12,600 SF
    Lot size:
    5.94 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    179
    Last Refresh:
    Apr 5 at 9:07 pm

    Property Features for 5950-5960 South State Road

    General Information

    Standard status
    Active
    Size
    12,600 SF
    Lot size
    5.94 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Ron Goldstone
    Ron Goldstone

    Listing agent Ron Goldstone License #6502102638

    Listing office NAI Farbman - Corporate

    Listing date Nov 24, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI Farbman - Corporate

    HighLights

    • Located directly across from Avis Farms, a high‑tech research park, providing immediate customer potential.
    • Brand new, state‑of‑the‑art construction ready for interior improvements.
    • Buildings are in a grey box condition, allowing for customizable space design.
    • Located in front of Inglewood Subdivision, containing 106 single‑family homes and 86 condominium units, with 220 additional units planned in Phase II.
    • Easily accessible to I‑94, US‑23, Michigan Ave & M‑14.
    • All utilities and services are in place.

    Overview

    This retail/medical/office development is part of a PUD development. Located across the street from Avis Farms, a high-tech research park with strong occupancy and a dense employment base, Inglewood Park is designed to serve as a convenient retail and office option for the employees of companies such as Federal Mogul, Tetra Tech, and Thomson Reuters. The multi-building development is situated on S State St, directly in front of the Inglewood Subdivision, which includes 106 single-family homes and 86 condominium units. An additional 220 units are planned for Inglewood Phase II. The property offers easy access to I-94, US-23, Michigan Ave, and M-14. Textile Road has been recently improved, providing a direct route from Michigan Ave (M-12) to S. State Street. The buildings are currently in a grey box condition, facilitating the design of customized spaces to suit individual business needs. Individual tenant spaces, totaling 12600 square feet, will be delivered by the owner in a white box condition. All utilities and services are in place, ready for interior improvements. Major retailers in the immediate trade area include Briarwood Mall, Cosco, and Wal Mart.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7333
    Latitude
    42.2009

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    FAQs

    What type of property is this?
    Retail space - New construction near Avis Farms, ideal for retail/office.
    Where is this retail space located?
    The property is located at 5950-5960 South State Road Ann Arbor, MI.
    What are key features of this property?
    This property features: Located directly across from Avis Farms, a high‑tech research park, providing immediate customer potential.; Brand new, state‑of‑the‑art construction ready for interior improvements.; Buildings are in a grey box condition, allowing for customizable space design.
    (248) 353-0500 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ron Goldstone
    Ron Goldstone
    Real Estate License ID: 6502102638
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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